The Rationale of Growth Studies
T H E R A T I O N A L E OF G R O W T H S T U D I E S
Is it not sufficient to minimize short-run economic disturbances ? Is it not better to study the distribution of a given national-income pie than to speculate about its growing size? Such myopic and static questions are asked by those who have lost sight of time-perspective. We have reached a point where we must change our time-perspective so as to take wings into the long-run, transcending the immediate and the ephemeral.